Tata Steel Profit Declines For First Time in 3 Years, JSW Turns to Loss Tata Steel Ltd., India’s biggest producer, reported its first decline in quarterly profit in almost three years and third-ranked JSW Steel Ltd. posted a loss as demand waned from builders and makers of cars and appliances.
India to Keep Wheat, Rice Export Curbs Until Polls, Trade Secretary Says India, the world’s second-biggest wheat and rice producer, may retain curbs on exports to check prices until the nation concludes elections due by May.
Stocks Rise to Highest in More Than a Week in Mumbai Trading; ICICI Gains Indian stocks rose for a second day, driving the benchmark index to its highest in more than a week, on expectation the U.S. will form a so-called bad bank to absorb toxic assets, helping stimulate the world’s biggest economy.
ONGC 3rd-Quarter Profit Falls 43 Percent on Oil Prices, Subsidy Payouts Oil & Natural Gas Corp., India’s largest oil producer, reported a 43 percent decline in third- quarter profit after oil prices dropped from a record and the company paid subsidies to state-run refiners.
Tata Motors Advances in Mumbai Trading on U.K. Government's Loan Guarantee Tata Motors Ltd., the maker of Jaguar cars and Land Rover sport-utility vehicles, rose the most in more than three weeks in Mumbai after the U.K. government offered carmakers loan guarantees to help them cope with the recession.
Rupee Closes Near One-Week High on Speculation Some Exporters Sold Dollars India’s rupee closed near a one-week high on speculation some exporters took advantage of the currency’s recent losses to convert overseas earnings.
Nalco Expects Profit to Continue to Decline Should Prices Fail to Recover National Aluminium Co., India’s second- biggest producer, posted a drop in third-quarter profit and forecast earnings will slide further should prices fail to improve.
Stocks Rise Worldwide, U.S. Futures Gain on Bank-Bailout Plan, SAP Profit Stocks rose around the world and U.S. index futures gained as President Barack Obama’s administration prepared a plan to absorb toxic bank assets and earnings from SAP AG and Yahoo! Inc. exceeded analysts’ estimates.
FDIC May Run `Bad Bank' in Obama Plan to Remove Toxic Assets, Spur Lending The Federal Deposit Insurance Corp. may manage the so-called bad bank that the Obama administration is likely to set up as it tries to break the back of the credit crisis, two people familiar with the matter said.
Wells Fargo Has First Loss Since 2001; Shares Jump as Bank Keeps Dividend Wells Fargo & Co., the second- biggest U.S. home lender, reported its first quarterly loss since 2001 after acquiring Wachovia Corp. The stock rose 17 percent in early trading after the bank maintained its dividend and said it doesn’t need more federal aid.
Wall Street Bonuses Plummeted 44% in 2008, State Comptroller DiNapoli Says Cash bonuses paid to New York City employees of Wall Street firms declined 44 percent last year amid record losses in the securities industry, state Comptroller Thomas DiNapoli reported today.
Immelt Stakes Legacy on GE's Ability to Keep Dividend, Aaa Credit Rating Jeffrey Immelt will know within three months whether his eventual mark on General Electric Co. can include the claim he led it through the deepest economic crisis in a generation with its dividend and Aaa credit rating intact.
Mortgage Applications Tumble the Most in 16 Years as Refinancing Plunges Mortgage applications in the U.S. slumped last week by the most in 16 years as refinancing plunged.
Boeing Reports Loss as Machinists' Strike, Faulty Parts Reduce Production Boeing Co., the second-largest commercial-plane maker and defense contractor, posted a loss in the year’s final three months after a strike shut factories and faulty parts slowed efforts to restart production.
source: Bloomberg
